Seniors Want to Know Where to Retire Cheap

Senior citizens who are nearing the end of their working years look forward to their “golden years”, but they may also wonder where to retire cheap. Few people have planned carefully enough to have a retirement income that will support their pre-retirement lifestyle. Stock market fluctuations have eaten into the retirement funds of some people and others have not begun contributing soon enough. Any seniors depending on social security for retirement income will need to severely limit their lifestyle, and there is no guarantee how long the Social Security program will last.

Although it can be very difficult to move away from a familiar neighborhood and nearby family, the most obvious answer to this financial dilemma is to sell the family home and find out where to retire cheap. Some people have found a way to have the best of both worlds by becoming “snowbirds”. This is a term that applies to seniors who migrate to a warmer climate during the winter months and return to their northern neighborhood when the temperatures warm in summer.

Owning two properties in different climates is not exactly the best way to reduce living expenses, so most people purchase a comfortable travel trailer after selling the family home. Some may find this difficult if they have a strong emotional attachment to the home where their children were raised, but a solution may be found if one of the kids purchase the home and keep it in the family. This works especially well if the home is large enough to be remodeled to include separate living quarters for the grandparents. The retired couple could also continue to live in the travel trailer while it is parked on the property; assuming there is sufficient space for that plan to work.

While migrating back and forth in a home on wheels may be the answer for some retirees, it is not for everyone. Many seniors prefer to simply purchase a more affordable home in a retirement community and settle in permanently. There are some areas that have a lower cost of living and modest homes with a price that is affordable for retirees. There is no reason to assume living in a retirement community will be boring since many offer a range of activities to keep life interesting for the residents.

When searching for information on where to retire cheap, seniors will find the Southern states with warm climates top the list. Florida is a popular retirement state, but property values there can be somewhat higher than other areas. Missouri has a warm climate and also very reasonable real estate prices. In 2016 Kansas City, MO rated 19th on the list of the best affordable places to live. Rural properties can be found in the $100,000 or lower price range, but not everyone wants to live in the country.

Seniors who are still enjoying good health want to take advantage of the free time they finally have available to them by traveling and seeing the sights all over the US and other countries. Travel expenses can mount up quickly which is why retirees often choose to sell their home and live in a nicely equipped RV while visiting one state after another. This lifestyle offers golden agers the option of traveling to and staying in whatever area they choose for as long and they care to be there.

While many people would choose to live in a warm climate during their retirement years, others do not enjoy the heat all that much. In addition, very warm climates are often at risk of hurricanes and tropical storms. That kind of risk deters some people from living in those areas since their property can be completely destroyed and their life may be in danger. There is also the consideration that property insurance rates will be higher than in other areas of the country.

Many seniors choose to move to a warmer climate that does not have the threat of destructive weather events. Researching where to retire cheap brings up Arizona and New Mexico. While these areas can be hot during the summer months, winter temperatures are very comfortable. One solution to this problem would be to vacation in cooler areas during the hottest summer months. Some higher elevations in these states have a more temperate climate, but Sun City is a very popular retirement community in Arizona.

There are so many amazing places in the world that people can enjoy, and some fortunate people area able to afford a beautiful island home. Having the ability to purchase a home on a tropical island requires a good amount of wise financial planning during the pre-retirement years. However, this can be a great choice since the property offers wonderful vacation opportunities for extended family and close friends. There are actually some island paradise locations that are quite reasonable.

While retirement may seem far in the future for most middle-aged people, time does seem to speed quickly past. Simply keeping up with the demands of raising a family can be financially draining so it can be difficult to set aside enough funds for the future which will surely come all too soon. One of the best ways to deal with this problem is to have funds taken from the paycheck starting at the beginning of the career. Some companies offer a matching funds savings program, but this is becoming less common as employers cut back on employee benefits. Some do not even offer company paid insurance programs anymore.

The very best way to ensure a worry free retirement is to avoid spending more than is necessary and plan to pay off the home mortgage before retiring. Also live the healthiest lifestyle possible to help prevent any catastrophic health problems. A heart attack, cancer, diabetes, or some other serious health problem can quickly deplete retirement savings and require a second mortgage on a home that is nearly paid for. A responsible lifestyle is the best way to ensure a retirement that is as devoid of worry as possible.